Cetera Investment Advisers Buys 22,351 Shares of Workday, Inc. (NASDAQ:WDAY)

Cetera Investment Advisers grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 83.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 49,132 shares of the software maker’s stock after acquiring an additional 22,351 shares during the quarter. Cetera Investment Advisers’ holdings in Workday were worth $13,401,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. ORG Partners LLC increased its stake in shares of Workday by 1.2% during the fourth quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock valued at $788,000 after buying an additional 34 shares during the period. VisionPoint Advisory Group LLC grew its stake in Workday by 27.6% in the fourth quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 34 shares during the period. Carolinas Wealth Consulting LLC grew its stake in Workday by 9.7% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after purchasing an additional 34 shares during the period. Meitav Investment House Ltd. grew its stake in Workday by 2.6% in the fourth quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after purchasing an additional 36 shares during the period. Finally, Congress Wealth Management LLC DE grew its stake in Workday by 2.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock worth $458,000 after purchasing an additional 39 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Down 3.5 %

WDAY stock opened at $214.86 on Friday. Workday, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $311.28. The business’s 50-day moving average is $220.32 and its two-hundred day moving average is $255.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market cap of $56.94 billion, a price-to-earnings ratio of 38.71, a P/E/G ratio of 5.42 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. Workday’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. As a group, analysts forecast that Workday, Inc. will post 2.12 earnings per share for the current year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 82,762 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $210.28, for a total value of $17,403,193.36. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $21,658,209.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the completion of the sale, the insider now owns 562,000 shares in the company, valued at $128,877,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $210.28, for a total value of $17,403,193.36. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The disclosure for this sale can be found here. Insiders sold a total of 524,672 shares of company stock worth $115,938,834 over the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WDAY shares. Piper Sandler reduced their price target on Workday from $280.00 to $262.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. The Goldman Sachs Group cut their target price on Workday from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Canaccord Genuity Group cut their target price on Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Morgan Stanley cut their target price on Workday from $330.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. Finally, Royal Bank of Canada cut their target price on Workday from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $281.44.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.